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<br /> <br />City of Lake Elmo Volunteer Fire Department 1 <br /> <br />Executive Summary <br />The Required Contributions for 2025 and 2026 are summarized in the following table: <br /> <br />Summary of Results <br /> <br />Plan Data 2025 2024 <br />1. Current Benefit Level <br />2. Number of Participants <br />$ 8,000 $ 7,000 <br />a. Active members 29 24 <br />b. Deferred members 10 9 <br />c. Total 39 33 <br />Funded Status 2025 2024 <br />1. Projected Assets at End of Year $ 1,840,719 $ 1,542,698 <br />2. Accrued Liability at End of Year 1,260,175 1,046,711 <br />3. Surplus / (Deficit) $ 580,544 $ 495,987 <br />4. Funded Ratio 146.07% 147.39% <br /> <br />5. Account Status Surplus Over Full <br />Funding <br /> Surplus Over Full <br />Funding <br />Contributions 2025 2024 <br />1. Financial Requirement <br />a. Total Financial Requirement $ 120,446 $ 141,510 <br />b. Reduction to the Financial Requirement (264,877) (217,267) <br />c. Required Contribution $ 0 $ 0 <br />2. Contribution Due Date 12/31/2026 12/31/2025 <br /> <br />